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MEDIA / Blog / Ajman Freezone: World’s Fastest Growing Free Zone
Ajman Free Zone (AFZ) was established in 1988, leading to massive industrial development in Ajman by attracting a great number of companies to benefit from the investment privileges, thereby strengthening industry and trade and the financial sector in the UAE. AFZ provides competitive privileges and facilities allowing companies to get a considerable return on their investment. A popular place for international investors wishing to set up a free zone company or an offshore company due to its low costs, enhanced privacy and various benefits. Ajman free zone has experienced over 400% growth in company formation activities recently.

The liberal economic climate in Ajman has been specifically designed to welcome foreign business, investment and encourage production, provide incentive for trade, develop international commerce, and above all promote industrial activity. The needs of small to mid-sized businesses are given particular attention, and all efforts are considered to facilitate cooperation with foreign firms. Furthermore, it has about 45 tax treaties (as it’s classed as part of the United Arab Emirates), which is rare for an offshore financial centre, although these tend to mainly benefit local Ajman companies allowing reduced withholding taxes on dividends and restricting tax overseas.

An offshore company in Ajman Free zone offers very good privacy and confidentiality, particularly given the fact that Ajman has no information exchange treaties. A minimum of one shareholder and one director is required to comply with company formation regulations in Ajman Free Zone. There is no restriction on the maximum number of shareholders, and corporate shareholders are allowed. There is no register of shareholders or directors with an Ajman offshore company and therefore complete anonymity. As a result Ajman offshore and free zone companies are favoured in asset protection schemes.

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